Recent estimates of convergence equations using panel data techniques tend to produce theoretically unpalatable results … Spanish regions, it is found that explicitly allowing for short-term noise reduces the estimated convergence rate to values …

. Improved, more extensive cross-country data; 3. A heightened need, driven by real-world topicality, for understanding the role …

Cross-section or short-panel econometric techniques typically used to examine Gibrat’s Law of Proportionate Effect …

introduces in the results. Our approach permits the estimation of different convergence rates to different steady states for each …We study the issue of income convergence across countries and regions with a Bayesian model which allows us to use … information in an efficient and flexible way. We argue that the very slow convergence rates to a common level of per-capita income …

Unlike economies as a whole, manufacturing industries exhibit unconditional convergence in labor productivity. The … the period since 1990. The coefficient of unconditional convergence is estimated quite precisely and is large, at 3 ….0-5.6 percent per year depending on the estimation horizon. The result is robust to a large number of specification tests, and …

This paper offers new tests of the `convergence hypothesis'. It first analyses the pattern of growth of measured inputs … is led to reject the convergence theory. In order to understand what lies at the heart of this discrepancy, the paper … school enrolments (or the UN-conditional convergence of the stock of measured inputs would not hold), but because the law of …

The neoclassical growth model accords with empirical evidence on convergence if capital is viewed broadly to include … convergence than those observed empirically, however. We show that the open economy model conforms with the evidence if an economy …

capacity'). In this paper we document that there has been convergence of TFP within a panel of industries across thirteen OECD …

membership. It should also be sufficient. 3) Convergence, prior to the adoption of the euro, of an EMU candidate’s inflation rate … to its euro area equilibrium inflation rate is helpful but not essential. 4) Real convergence is irrelevant for EMU … fiscal sustainability (and preferably also inflation convergence), the EMU candidate should be given a firm date and …